§ 32-11-506 — Details of securities

(1) Except as otherwise provided in this
article and in any other law, the provisions of which are relevant by express
reference in this article thereto, any district securities issued under this article, as
may be provided by the board in a resolution authorizing their issuance and in any
indenture or other proceedings pertaining thereto, may be:

(a) In such form, issued in such manner, and issued with such provisions:

(I) For the application of any accrued interest and any premium from the sale
of any bonds or other district securities under this article as provided in section 32-11-516;

(II) For the registration of the bonds or other securities for payment as to
principal only, or as to both principal and interest, at the option of any holder of a
bond or other security, or for registration for payment only in either manner
designated;

(III) For the endorsement of payments of interest on the bonds or other
securities or for reconverting the bonds or other securities into coupon bonds or
other coupon securities, or both for such endorsement and such reconversion,
where any bond or other security is registered for payment as to interest; and
where interest accruing on the securities is not represented by interest coupons,
the securities may provide for the endorsing of payments of interest thereon;

(IV) For the endorsement of payments of principal on the bonds or other
securities, where any bond or other securities are registered for payment as to
principal;

(V) For the initial issuance of one or more bonds or other securities
aggregating the amount of the entire issue or any portion thereof, and the
endorsement of payments of interest or principal or both interest and principal on
the securities;

(VI) For the manner and circumstances in and under which any such bond or
other securities may in the future, at the request of the holder thereof, be converted
into bonds or other securities of smaller or larger denominations, which bonds or
other securities of smaller or larger denominations may in turn be either coupon
bonds or other coupon securities or bonds or other securities registered for
payment, or coupon bonds or other coupon securities with provisions for
registration for payment;

(VII) For the reissuance of any outstanding bonds or other securities, and the
terms and conditions thereof, whether lost, apparently destroyed, wrongfully taken,
or for any other reason, as provided in the Uniform Commercial Code - Investment
Securities, being article 8 of title 4, C.R.S., or otherwise;

(VIII) For the deposit of moneys, federal securities, or other securities of the
federal government, or both moneys and all such securities, with and securing their
repayment by a commercial bank within or without or both within and without this
state; and

(IX) For the payment of costs or expenses incident to the enforcement of the
securities or of the provisions of the resolution or of any covenant or contract with
the holders of the securities.

(b) Issued otherwise with such recitals, terms, covenants, conditions, and
other provisions as the board may provide.

Legislative History

Source: L. 69: p. 767, � 48. C.R.S. 1963: � 89-21-48.